Commerce forecasts export to grow 4%

The Commerce Ministry forecast exports to grow 4% this year, down from its earlier target of 7-7.5% growth.

The figure was predicted by Commerce Minister Niwatthamrong Boonsongpaisarn as the ministry was trying to come up with more measures to stimulate exports during the last quarter of this year.

Commerce attaches from 62 countries and trade offices were summoned to the ministry in an attempt to shore up export growth during the remaining months of the year focusing on potential goods to ASEAN countries and border trade.

Niwat said that he would discuss stimulation of export growth with all relevant government and private sector agencies end of next month to find out the exact growth figure of exports.

But he expressed optimism that the growth might be around 4%, though below the earlier target of 7-7.5%.

Meanwhile Thai commerce attache in Kwang Chow of China Miss Pannakan Jiamsukon said the current global economic recession has forced Thailand to adjust its export target to China and Hong Kong to 3% from 5% earlier.

During the first seven months of this year, she said exports to China increased a mere 1.4% with exports of sugar, rubber declining in contrary to exports of electronic goods and soft drink which rose.